By The Ameh News
FirstBank Nigeria has commenced a nationwide sensitisation roadshow to educate its legacy pensioners on an approved Pension Settlement Framework designed to provide a final and sustainable resolution to longstanding pension-related matters.
The engagement programme, which began on August 18, 2026, is scheduled to run through September 3, 2026, covering six major cities across Nigeria—Lagos, Ibadan, Benin, Enugu, Abuja and Kaduna.
Framework targets long-standing pension concerns
The Pension Settlement Framework is a one-off settlement initiative developed for eligible legacy pensioners of FirstBank who retired under the Bank’s former defined benefit pension scheme.
According to the Bank, the framework was developed in collaboration with the Nigeria Union of Pensioners (NUP) and under the guidance of the National Pension Commission (PenCom).
The initiative is intended to bring closure to longstanding pension-related issues while establishing what the Bank described as a fair, transparent and sustainable resolution for eligible beneficiaries.
Rather than relying solely on written communication, FirstBank said the nationwide roadshow is designed to give pensioners an opportunity to interact directly with representatives of the Bank and other relevant stakeholders.
Six-city engagement begins
The roadshow is being taken to six locations to ensure that pensioners across different regions have access to information and clarification on the settlement framework.
The selected locations are:
Lagos
Ibadan
Benin
Enugu
Abuja
Kaduna
At the sensitisation sessions, pensioners are expected to receive detailed explanations of the framework, including its scope, eligibility requirements and benefits.
The sessions will also provide an avenue for pensioners to raise questions, express concerns and obtain clarification on issues surrounding the settlement process.
FirstBank: Pensioners deserve direct engagement
Commenting on the initiative, Olumuyiwa Olulaja, Group Head, Human Capital Management & Development, FirstBank Group, said the Bank recognises the contributions of its former employees to its growth and development.
Olulaja said the approved framework reflects FirstBank’s determination to engage constructively with its pensioners and resolve longstanding issues in a fair and transparent manner.
“We value the immense contributions made by our pensioners to the growth and success of the institution over the years,” he said.
According to him, the settlement framework is intended to provide closure to the pension-related matters, while the roadshow creates an important platform for pensioners to understand the initiative and its benefits.
Roadshow puts transparency at centre of settlement
The nationwide engagement comes against the backdrop of the importance of clarity and stakeholder confidence in resolving legacy pension obligations.
By taking the sensitisation exercise directly to pensioners in different parts of the country, FirstBank is seeking to ensure that eligible beneficiaries are adequately informed before making decisions regarding the settlement framework.
The Bank said the initiative reinforces its commitment to stakeholder engagement, transparency and sustainable relationships, particularly with former employees whose service contributed to the institution’s long history.
PenCom and NUP partnership adds institutional weight
The involvement of the National Pension Commission and Nigeria Union of Pensioners gives the initiative a broader stakeholder dimension.
While PenCom provides regulatory guidance within Nigeria’s pension architecture, the NUP represents pensioners’ interests. Their involvement therefore provides an important framework for communication between the Bank and beneficiaries.
For eligible legacy pensioners, the roadshow represents an opportunity to obtain information directly rather than relying on informal interpretations of the settlement arrangement.
Beyond pensions: FirstBank’s people-centred strategy
FirstBank also linked the initiative to its broader people-centred approach to human capital and stakeholder management.
The Bank said its commitment to its people extends beyond remuneration to include continuous learning, career development, leadership development and personal wellbeing.
It noted that its workforce development strategy covers areas including Employee Learning and Development, Talent and Leadership Development, Career Mobility and Succession Planning.
Among the initiatives highlighted by the Bank is FirstAcademy, its corporate learning and development platform, which provides learning through classroom, e-learning, mobile learning and blended approaches.
The Bank also operates leadership and development programmes, a Graduate Training Programme and a Technology Academy as part of its efforts to develop a future-ready workforce.
A 132-year legacy meets a new pension chapter
FirstBank, which describes itself as West Africa’s premier financial institution and a leading financial inclusion service provider, said the pension settlement initiative reflects its recognition of the role former employees played in building its 132-year legacy.
The roadshow therefore goes beyond explaining a financial settlement. It represents an attempt to strengthen communication with a stakeholder group whose careers contributed to the development of one of Nigeria’s oldest financial institutions.
Pensioners urged to participate
FirstBank has encouraged eligible pensioners and other relevant stakeholders in the six designated locations to participate in the sensitisation sessions.
The Bank said the direct engagement would enable beneficiaries to better understand the approved Pension Settlement Framework, seek clarification on outstanding concerns and engage relevant representatives on the way forward.
With the roadshow running until September 3, 2026, attention will now focus on how effectively the nationwide engagement translates the approved framework into clear information and confidence among the affected legacy pensioners.
The broader significance is clear: after years of pension-related concerns, FirstBank is using a nationwide face-to-face engagement strategy to move the settlement process from regulatory approval and documentation to direct communication with the pensioners expected to benefit from it.
Discover more from Ameh News
Subscribe to get the latest posts sent to your email.
